Capital.com plans UAE spot crypto launch after license

Capital.com plans to introduce spot cryptocurrency services in the United Arab Emirates after its affiliate, Capital Vault, received a virtual asset license from the UAE Capital Market Authority. Summary Capital Vault received a UAE license covering virtual asset dealing, matching, custody, execution and settlement. UAE clients will eventually buy and hold actual crypto assets through the Capital.com application directly. Capital Vault will operate separately, with dedicated governance, custody and risk management arrangements for clients. The planned spot service differs from CFDs, which provide exposure without ownership of underlying cryptocurrencies. Capital.com has not announced the service launch date, supported cryptocurrencies, pricing or minimum account requirements. Capital.com announced the approval on Aug. 21. The license authorizes Capital Vault to deal in virtual assets as an agent or matching principal and provide custody services for clients. Once the service launches, eligible UAE customers will be able to buy and hold actual crypto assets through the Capital.com application. Capital Vault will handle trade execution, custody and settlement. Capital.com did not dis...